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New DelhiIndia’s commercial vehicle, tractor, EV, construction equipment and mandi markets saw major developments this week, with strong sales, new launches, financing initiatives and key industry updates.
By Robin Kumar Attri
Commercial vehicles, electric mobility, tractors and farm markets, this week brought plenty of action across India’s mobility and agriculture sectors. From a sharp 57.9% rise in electric bus sales and strong construction equipment demand to new Mahindra products, SML Mahindra’s $1 billion milestone and fresh EV safety rules, the industry saw several important developments. Meanwhile, tractor sales, mandi prices, farm financing and major bus network expansions also made headlines. Here’s a quick look at the biggest stories from CMV360 this week.
India Electric Bus Sales Rise 57.9% in August 2026; Olectra Greentech Leads Market
India’s electric bus registrations rose 57.9% MoM to 908 units in August 2026, up from 575 in July. Olectra Greentech led with 315 units and 34.7% market share, followed by JBM (160) and Pinnacle Mobility (155). Pinnacle recorded the highest growth at 198.1%, while PMI Electro Mobility declined 62.2%.
India’s three-wheeler retail sales reached 1,22,281 units in August 2026, up 8.64% YoY but down 8.59% MoM. Passenger three-wheelers led with 72,657 units, while goods three-wheelers grew 42.76% YoY. Passenger e-rickshaw sales fell 22.03%. Bajaj Auto remained market leader with 42,605 units and 34.84% share, while Mahindra, Piaggio and TVS strengthened their positions.
India’s wheeled construction equipment retail sales rose 31.45% YoY to 5,166 units in August 2026, up from 3,930 units. JCB India led with 2,605 units and a 50.43% market share, followed by ACE with 556 units. Escorts Kubota, Bull Machines, CASE India, Indo Farm and LiuGong also improved their market presence during the month.
Mahindra Launches Veero 1.1 XXL CNG and Upgraded Veero Diesel
Mahindra has expanded the Veero LCV range with the new 1.1-tonne Veero 1.1 XXL CNG, offering 21.4 km/kg mileage and 450+ km combined range. The upgraded Veero Diesel gets a 10.25-inch touchscreen, cruise control, enhanced iMAXX connectivity and LNT technology that eliminates DEF/AdBlue. Prices start at ₹8.25 lakh, with CNG availability from September 20, 2026.
India’s commercial vehicle retail sales reached 90,769 units in August 2026, growing 14.45% YoY but declining 8.93% MoM. LCVs led with 55,972 units, followed by HCVs with 26,640. Tata Motors retained market leadership with 30,338 units and 33.42% share, while Mahindra ranked second with 23,998 units and 26.44% market share.
Eicher EV Push Accelerates: Electric Truck and Bus Fleet Nears 2,000 Units
Eicher Trucks and Buses has nearly 2,000 electric trucks and buses operating across India. Its My Eicher app integrates 20,000+ charging points. Nearly 26% of FY2024-25 energy came from green sources. Eicher is also expanding its new-energy portfolio with EV, CNG, LNG, hydrogen internal combustion and fuel-cell technologies.
EV BMS Cybersecurity Testing Now Made Mandatory in India
India’s AIS-156 Amendment No. 5 introduces cybersecurity testing for wireless BMS in L-category EVs. The rules prevent unauthorised access through smartphones or apps to safety-critical functions like charging, contactors, settings and firmware. The move follows Bluetooth BMS misuse concerns in e-rickshaws and aims to make connected EV batteries safer and more secure.
SML Mahindra Hits $1 Billion Market Cap as M&M’s CV Strategy Gains Momentum
SML Mahindra has reached a $1 billion market cap after its stock surged nearly ninefold in 14 months. M&M’s 58.96% stake, acquired for ₹555 crore, is now worth over ₹5,600 crore, creating an unrealised gain of around ₹5,000 crore. The planned MTBD merger aims to strengthen the truck-bus business, targeting over 20% market share by FY2036, supported by strong Blazo i-TRK demand.
FlixBus Increases Bus Capacity by Up to 150% on High-Demand Routes
FlixBus has increased capacity on key Indian intercity routes amid strong festive travel demand. Hyderabad-Tirupati saw the highest 150% rise, followed by Chennai-Vijayawada at 67%. Jaipur-Dehradun capacity grew 33% month-on-month, while Delhi-Amritsar increased 25%. The expansion, driven by Independence Day, Raksha Bandhan and Onam travel, aims to provide greater flexibility and meet rising passenger demand through regional fleet partnerships.
Zingbus Crosses 17.5 Lakh Electric Kilometres, Avoids 1,300 Tonnes of CO₂ Emissions
zingbus has completed 17,53,380 cumulative electric kilometres, displacing 5,00,966 litres of diesel and avoiding around 1,300 tonnes of tailpipe CO₂ emissions. Each electric bus covers about 550 km daily, while the fleet carries nearly 675 passengers every day. The company highlighted these operational results as evidence of electric buses’ potential for high-utilisation intercity transport and called for stronger EV ecosystem support.
Ashok Leyland has opened its 12th LCV dealership in Karnataka at Mukram Gunj, Raichur, operated by SB Motors LLP. The 3S facility has seven service bays and supports models including Saathi, Dost, Bada Dost, Partner and MiTR. The expansion takes its India-wide network beyond 945 customer touchpoints, strengthening sales, service and spare-parts support for LCV customers across Raichur and nearby areas.
VST Tillers and Union Bank Join Hands to Offer Easy Loans for Farm Equipment
VST Tillers Tractors has signed an MoU with Union Bank of India to offer retail financing for tractors, power tillers, reapers and weeders. The partnership will provide farmers easier access to loans through VST’s network of over 1,000 dealers across India. The initiative aims to improve credit accessibility, encourage farm mechanisation and help farmers invest in modern agricultural equipment.
Delhi Laxmi Yojana: ₹5,100 Crore Budget Set as Over 6 Lakh Women Register in 10 Days
Delhi Laxmi Yojana has crossed 6 lakh registrations within 10 days of launch. The scheme offers ₹2,500 monthly assistance to eligible women aged 21-60 years, with annual family income up to ₹2.5 lakh. The Delhi government has allocated ₹5,100 crore and aims to benefit around 17 lakh women. Applications are available online and offline through designated government offices and CSCs.
India’s tractor retail sales remained almost flat in August 2026, rising 0.84% YoY to 87,977 units. Mahindra Tractor Division led with 20,703 units and 23.53% market share, followed by Swaraj at 18.09% and ITL at 13.43%. Escorts Kubota gained strongly to 11.09%, while TAFE and Eicher lost share. Smaller OEMs’ share fell sharply to 3.36%.
Maize Prices on the Rise! New Arrivals Increase, What Happens Next?
India’s maize market is seeing rising Kharif arrivals, with prices varying widely across mandis. Bengaluru recorded the highest model price at ₹3,100/quintal, while Gulabbag saw strong buying. Poultry, starch and processing demand may support prices, but increased arrivals could limit gains. Maize sowing was around 5% lower by July 17, potentially supporting prices if production declines.
IFFCO-MC Celebrates 12th Foundation Day, Focuses on Innovation and Farmer Welfare
IFFCO-MC Crop Science celebrated its 12th Foundation Day, completing 11 years of contribution to Indian agriculture. The IFFCO-Mitsubishi joint venture offers insecticides, fungicides, herbicides, plant growth regulators and biologicals. Its Kisan Suraksha Bima Yojana supports farmers, while a wide distribution network improves access. The company aims to strengthen innovation, sustainability, farmer welfare and technology-driven agricultural solutions.
Mustard Price Rally Ahead? Global Edible Oil, Crude Oil Give Positive Signals
Mustard prices remain firm at ₹7,900-₹8,575 per quintal, with several mandis near ₹8,500. Saloni plant rates reached ₹9,100, indicating strong buying interest. Rising Brent crude at $108-109 and firm global edible oil markets may support prices. However, fresh arrivals, domestic demand, mustard oil consumption, plant purchases and global supplies will determine whether the rally continues.
That’s a wrap of the biggest industry updates from 7 to 12 September 2026. Electric mobility continued to gain momentum, while commercial vehicles, buses and construction equipment recorded strong developments. At the same time, tractor markets and crop prices remained closely watched, with new financing initiatives supporting farmers. From EV cybersecurity and fleet electrification to market-share shifts and rising mandi prices, this week highlighted the rapid changes shaping India’s mobility and agriculture landscape.
About the author
Robin Kumar Attri is a content and video professional with 2.7 years of experience in the commercial vehicle domain. At CMV360, he creates news articles and videos covering trucks, tractors, buses, three-wheelers, and infrastructure machines.
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